July 6, 2018 / 1:23 PM / 5 months ago

China tariffs on U.S.-made models to force price hikes for BMW

DETROIT, July 6 (Reuters) - German automaker BMW said on Friday that it will be unable to “completely absorb” a new Chinese 25 percent tariff on imported U.S.-made models and will have to raise prices on the vehicles it makes in Spartanburg, South Carolina.

BMW said in a statement it is “currently calculating related necessary pricing increases” for U.S.-made models imported into China and will announce them “at a later stage.” (Reporting By Nick Carey Editing by Chizu Nomiyama)

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